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2023 (8) TMI 1281 - ITAT PANAJIDeposit of cash during the period of demonetization - HELD THAT:- As assessee could not bring any evidences to substantiate his claim for justifying depositing the cash in his banks accounts during demonetization period. Furthermore, even no details of the customers from whom the cash collections in SBNs have been made during the demonetization were also filed before the Tribunal. Therefore, we do not find any infirmity with the order of the NFAC, the same is hereby upheld. Addition u/s 40A(3) - payments in cash towards purchases - HELD THAT:- Before the NFAC, no documentary evidences were filed for verification of the claim of the assessee that they have not violated the provisions of sec. 40A(3) of the Act. The assessee had simply filed the written submissions reiterating his earlier submissions made before the AO. At the time of hearing before us also, ld.AR claimed that the payments were covered under the exception of Rule 6DD of the Income Tax Rules, 1962, however, no documentary evidences/ materials were furnished before the Tribunal substantiating and corroborating the claim of the assessee that they are covered under the exception of Rule 6DD of the Income Tax Rules. In view thereof, there is no need of interference with the findings of the NFAC which is upheld. Assessee appeal dismissed.
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